Tag: valuations

Social commerce startup Meesho today(30th Sept.2021) said that it has raised $570 million led by Fidelity Management & Research Company and B Capital Group, a venture capital firm co-founded by Facebook co-founder Eduardo Saverin. Existing investors Prosus Ventures, SoftBank Vision Fund 2, and Facebook also participated in this round. Other new investors include Footpath Ventures, Trifecta Capital and Good Capital, and others. Following the rise, the company’s valuation has more than doubled to $4.9 billion in less than five months. Meesho aims to reach 100 million monthly transacting users by December 2022. It expects to utilise the fresh round of funding to grow its technology and product talent by 2.5x, increase its roster to over 50 million products, and become the platform of choice for customers, entrepreneurs, and sellers from all corners of India. Read more

The listed companies in India are worth 122 percent of India’s latest annualised gross domestic product (GDP) — the highest since December 2008, when it had hit an all-time high of around 150 percent. The ratio was 112 percent at the end of June and 103 percent at the end of March. India’s current market capitalisation (m-cap) to GDP ratio is nearly 55 percent higher than the 15-year median ratio of 79 percent. The combined m-cap of nearly 3,500 companies listed and actively traded on the BSE reached a new high of Rs 250 trillion on Tuesday and is up 120 percent since the end of March 2020, and 33 percent since the beginning of the current calendar year. This has created a wedge between stock valuations and India’s macroeconomic fundamentals. Read more